03/31/06

A new trial version of TWI's LIFEWISE tools can be downloaded from www.twisoftware.com/lifewise.

LIFEWISE tools are employed to maximise the value of an operator's maintenance or inspection budget. The methodology incorporates financial appraisal using net present value and probabilistic cost risk optimisation in accordance with ASME's CRTD-Vol. 41: "Risk-based methods for equipment life management", Centre for Research and Technology Development.

LIFEWISE can be used with generic equipment failure databases such as NERC-GADS, OREDA, API BRD 581, etc. The structural risk and reliability analysis (SRRA) techniques enable modelling of in-service time-dependent damage mechanisms like corrosion, creep, fatigue, SCC, etc. LIFEWISE is applied to pressure systems and pipelines, in process and thermal and nuclear power plants.

Downloading requires a fast internet connection. No payment is required for this trial software.